The SND Crawler indicator is a powerful tool designed to help traders identify key supply and demand zones on a chart, based on specific candle patterns and price action. The indicator currently detects three distinct types of demand zones (Type 1, Type 2, and Type 3), each representing critical areas where the market has shown significant buying interest.
How It Works:
Type 1 Demand Zone: Identified by a down candle followed by an up candle that closes above the high of the down candle. This zone indicates a potential area of demand where buyers have stepped in strongly.
Type 2 Demand Zone: This zone consists of a bearish candle followed by another candle that doesn't close below the low of the bearish candle. A subsequent bullish candle then closes above the high of the initial bearish candle, signaling a more complex demand area.
Type 3 Demand Zone: This more sophisticated zone involves a bearish candle (Candle [4]) followed by a series of candles that do not close below its low or trade above its high. A final bullish candle closes above the high of the bearish candle, confirming the demand zone.
The indicator is customizable:
Bars Back for Type 3: Adjust the number of bars back the indicator looks to identify Type 3 demand zones.
Show Only Highest Priority: Choose whether to display only the highest-priority demand zone when zones overlap or show all detected zones.
Benefits to the Community:
This indicator simplifies the process of identifying critical demand zones, which can be pivotal in making informed trading decisions.
Acknowledgments:
This indicator was inspired by the concepts taught by Mentfx, and all credit goes to him for his insights and mentorship. I created this tool to simplify my own trading process and share it with the community. The SND Crawler will be updated over time as I continue to refine and expand its capabilities.